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Low-Interest Loans and Training for New Farmers and Ranchers.

This Act establishes a new pilot program offering specialized development loans and guarantees for beginning farmers and ranchers to finance crucial, multi-year start-up investments. The program provides low-interest loans up to $100,000 with flexible repayment terms (3-10 years) and includes mandatory comprehensive training in farm business management. This aims to help new agricultural entrepreneurs build working capital and avoid financial strain caused by using short-term loans for long-term needs.
Key points
Access to development loans up to $100,000 for long-term investments (e.g., equipment, infrastructure, soil improvement).
Very low interest rates (0% to 3%) and long repayment periods (up to 10 years) with flexible principal payments.
Mandatory, comprehensive training provided to borrowers covering financial management, bookkeeping, and regulatory compliance.
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Additional Information
Print number: 118_HR_8598
Sponsor: Rep. Strickland, Marilyn [D-WA-10]
Process start date: 2024-06-03
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Summarized by: gemini-2.5-flash-preview-09-2025
Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

Capital for Beginning Farmers and Ranchers Act of 2024

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 118_HR_8598.

Which chamber initiated this legislation?

This legislation was initiated in the House of Representatives.

When did the legislative process begin?

The process officially started on 2024-06-03.

What are the main provisions?

Key points include:

  • Access to development loans up to $100,000 for long-term investments (e.g., equipment, infrastructure, soil improvement).
  • Very low interest rates (0% to 3%) and long repayment periods (up to 10 years) with flexible principal payments.
  • Mandatory, comprehensive training provided to borrowers covering financial management, bookkeeping, and regulatory compliance.
What is the specific legal status?

The current status is Expired.

Where can I read the full text of this legislation?

The full official text is available at: View full text

Who is the primary sponsor?

The primary sponsor is Rep. Strickland, Marilyn [D-WA-10].

What is the latest detailed status?

The latest detailed status is: Referred to the Subcommittee on General Farm Commodities, Risk Management, and Credit.

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-25.

CATEGORIES

Agriculture Economy